Texas All Lines Adjuster
Latest Exam
Mary Johnson owns a local maid service. She wants to get some form of
protection to protect their company against dishonesty on the part of her
employees. What type of bond does she need to get to protect her company?
Answer:
Fidelity bond
When a loss occurs, an individual should be restored to the appropriate
financial condition he or she was in before the loss. This is known as?
Answer:
Principle of indemnity
Mona insurer is going to cancel her insurance policy. In order for the
cancellation to be legal, what must the insured do?
Answer:
Notify Mona in writing that her policy is being canceled with the reason why.
Which of the following is not ground for license denial or revocation?
Answer:
Never having lived or never intending to reside in the state of Texas
You are handling a flood claim in Houston Texas. Your policyholder has a flood
policy on his home. The replacement cost of his dwelling is $230,000. The flood
related damages to the dwelling are valued at $220,000. The replacement cost
of the damage contents on his claim is $85,000. The actual cash value of the
damage contents is $63,000. How much will you pay him for his damage
contents? Do not considered a deductible
Answer:
$63,000
Your policyholder has a homeowners policy with the following limits on it.
Coverage $140,000, coverage B $70,000 and the deductible is 1%. Her home
was burglarized and she has filed a theft claim for stolen contents. What will be
her deductible on this theft claim?
Answer:
$700
Millennium vessel company sustained damage to one of their vessels that was
transporting goods across the gulf of Mexico. Which policy would they need in
order to get their damaged vessel repaired?
Answer:
They would need ocean Marine policy
__ Is a significant miss statement in an application form
Answer:
Material misrepresentation
The leftover value of a claim when an insurance company recovers and sells
property to reduce its financial loss?
Answer:
Salvage
You have just completed the handling of John Woods roof claim. Mr. Wood
disagrees with your courage and determination to deny his claim. What must
you provide to Mr. Wood?
Answer:
Written explanation of full or partial rejection of the claim
Blake Nelson’s license expired two years ago. He would like to obtain his
adjusters license so that he can resume his adjusting career. What does he do
to obtain his license?
Answer:
Start over by taking the pre-licensing course and exam and resubmitting
application
A temporary contract pending issue of the policy that is subject to the terms of
the contract to be written later.
Answer:
Binder